IFG Advisory LLC Grows Stock Position in AbbVie Inc (NYSE:ABBV)

IFG Advisory LLC grew its holdings in AbbVie Inc (NYSE:ABBV) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,479 shares of the company’s stock after acquiring an additional 328 shares during the period. IFG Advisory LLC’s holdings in AbbVie were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Prime Capital Investment Advisors LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $27,000. Weaver Consulting Group purchased a new stake in shares of AbbVie during the 1st quarter worth $25,000. Arbor Wealth Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth $28,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter worth $33,000. Finally, Capital Financial Planning LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $41,000. Institutional investors and hedge funds own 70.03% of the company’s stock.

In other news, SVP Jeffrey Ryan Stewart purchased 15,552 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the completion of the purchase, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roxanne S. Austin purchased 11,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The disclosure for this purchase can be found here. Insiders bought 152,452 shares of company stock valued at $10,128,541 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Shares of NYSE:ABBV traded down $0.58 on Friday, reaching $66.94. The company’s stock had a trading volume of 183,203 shares, compared to its average volume of 10,102,875. The stock’s 50-day moving average is $67.68 and its two-hundred day moving average is $76.15. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $98.70. The stock has a market capitalization of $98.19 billion, a P/E ratio of 8.46, a PEG ratio of 1.58 and a beta of 0.96.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc will post 8.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a $1.07 dividend. The ex-dividend date was Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.39%. AbbVie’s payout ratio is 54.11%.

Several research firms have recently issued reports on ABBV. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Piper Jaffray Companies raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Tuesday. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Wednesday, June 26th. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Finally, Goldman Sachs Group began coverage on shares of AbbVie in a research report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $92.05.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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